Cisco posts strong Q3 revenue, profit growth

Cisco revenue rose 21 percent and profit went up almost 34 percent in its fiscal third quarter

Cisco Systems on Tuesday reported strong growth in revenue and profit for a fiscal third quarter in which it made several acquisitions that it expects to help power Web 2.0.

The dominant network vendor's revenue rose to $US8.9 billion for the quarter, up 21 percent from the same quarter a year earlier. Net income grew almost 34 percent to $US1.9 billion, for earnings per share of $US0.30, on a GAAP (generally accepted accounting principles) basis.

Excluding certain items, net income was $US2.1 billion or $US0.34 per share, beating the consensus forecast of analysts polled by Thomson Financial by $US0.01 per share and more than $US100 million of revenue on a non-GAAP (generally accepted accounting principles) basis.

During the quarter, which ended April 28, Cisco acquired online collaboration vendor WebEx Communications for $US3.2 billion and also bought social networking technology developer Five Across and some assets of Utah Street Networks, another social networking company.

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